Slim pickings in the housing market mean Orange County house hunters have a week less time to find a home to buy or risk getting it snapped up by others.

That’s one highlight of the latest ReportsOnHousing report tracking local trends in listing, buying and selling including the estimated time it takes from an existing residence going on the market to a signed sales contract and entering escrow.

The latest analysis — as of Dec. 14 — found in Orange County: 4,023 listings, down 766 or 16 percent. New escrows were 1,984 — down 120 or 6 percent. “Market time” — a selling speed metric — dipped by seven days to 65 days vs. 72 one year ago.

In the four-county Southern California region — Los Angeles, Orange, Riverside and San Bernardino counties — the number of homes for sale declined by 15.9 percent in a year. New escrows were down 2.8 percent. Market time dipped 12 days — 13.5 percent — to 75 days vs. 86 a year ago.

Elsewhere in the region …

Los Angeles County: 9,274 listings, down 1,828 or 16 percent. New escrows were 4,578 — down 161 or 3.5 percent. Market time of 63 days vs. 73 one year ago.

Riverside County: 7,841 listings, down 1,639 or 17 percent. New escrows were 2,238 — down 13 or 0.6 percent. Market time of 106 days vs. 127 one year ago.

San Bernardino County: 4,308 listings, down 592 or 12 percent. New escrows were 1,702 — up 2 or 0.1 percent. Market time of 76 days vs. 86 one year ago.

Jonathan Lansner has been the Orange County Register's business columnist since 1997 and has been part of the newspaper's coverage of the local business scene since 1986. He is a native New Yorker who is a past national president of the Society of American Business Editors and Writers and a graduate of the University of Pennsylvania's Wharton School. Jon lives in Trabuco Canyon -- yes, a homeowner -- and when he's not fiddling with his trusty spreadsheet at work you can likely find him rooting for his beloved Anaheim Ducks or umpiring local lacrosse games.

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